United Parcel Service of North America Inc (UPS) is to expand its inbound and outbound airfreight services in Myanmar for the first time, the American logistics giant said.
UPS’ global customers trading to and from Myanmar will now have access to the firm’s supply chain services, which initially will include UPS Air Freight Direct and UPS Air Freight Consolidated.
“UPS works closely with our customers, and they have expressed a need for reliable freight services from Myanmar that will connect them to markets worldwide,” said Mary Yeo, vice president of supply chain operations, UPS South Asia District.
“Businesses in Myanmar can tap into UPS’s global logistics expertise, extensive network and technologies while relying on our airfreight and oceanfreight services.”
As Myanmar begins its economic transformation with aims to become a new manufacturing market, demand for freight services is expected to skyrocket.
Myanmar has a growth potential of 8.5 percent in the fiscal year of 2014 to 2015, according to the International Monetary Fund.
“Asia continues to evolve as new markets emerge and mature markets move up the value chain,” said Jeff McCorstin, president of global freight forwarding, UPS Asia Pacific.
“UPS’ offering in Myanmar underscores our longstanding efforts to strengthen our service offering in Asia and to integrate emerging markets into the global supply chain.”
The company, founded in 1907, delivers more than 15 million packages a day to more than 6.1 million customers in more than 220 countries and territories around the world, employing more than 397,000 people. Its’ 2012 revenue stood at $54.1 billion.